DLF, Oil India Slump After Exclusion From MSCI Index

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, November 13, 2015, 12:00 [IST]

Shares in Oil India fell as much as 7 per cent, while DLF dropped 2 per cent after both the companies were excluded from the MSCI index.

Four shares - Cadilla Healthcare, Tata Motors, Ashok Leyland and Maruti Suzuki have been included in the MSCI India index.

Some of the shares of the companies included were also trading soft, largely in line with the sharp fall in the markets.

The MSCI index saw additions and deletion of many stocks. While India saw addition of 4 and deletion of 2, Australia saw an addition of 3 and deletion of one. Interestingly, China had as many as 18 additions done and only 4 deleted.

Constituents of MSCI equity indexes are listed companies, which are included in or excluded from the indexes according to the application of the relevant index methodologies.

Accordingly, constituents in MSCI equity indexes may include MSCI Inc., clients of MSCI or suppliers to MSCI. MSCI has made it clear that inclusion of a security within an MSCI index is not a recommendation by MSCI to buy, sell, or hold such security, nor is it considered to be investment advice.

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